Question 1
Refer to the information provided in Figure 24.1 below to answer the question(s) that follow.
Refer to Figure 24.1. Suppose that the consumption function is
C = 400 + 0.5
Yd and taxes are $200 billion, at equilibrium the value of autonomous consumption is
◦ $400 billion.
◦ $300 billion.
◦ $200 billion.
◦ $100 billion.
Question 2
Refer to the information provided in Figure 24.1 below to answer the question(s) that follow.
Refer to Figure 24.1. Suppose that the consumption function is
C = 400 + 0.5
Yd and taxes are $200 billion, at equilibrium, what is the value of consumption?
◦ $2,000
◦ $1,350
◦ $1,300
◦ $1,150
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